Lincolnshire hotel with a long history up for sale

Thu, 21 Jul 2016 | COMMERCIAL PROPERTY

The Exchange Coach House Inn, which dates back to 1760, will be going up for auction, with a price sought of £1.5 million for the freehold interest.

The former Lincolnshire coach house is now a 42-bedroom hotel with a bar and restaurant, but was originally used as a home for a “man of substance”, before being used as a ladies' finishing school. It was purchased in about 1895 by a group of wealthy farmers; a small hall was built and was named The Exchange Club. Notable guests at the club included Winston Churchill in his younger days.

The property's present owner, Joseph Mullen, bought it after it had slipped into a derelict state in the 1970s, and renovated it, preserving many of its original plasterwork and fireplace features. He also added 22 en-suite bedrooms, a bar, lounge and licensed cafe.

Christie & Co is managing the sale. Director Mark Worley told the Lincolnshire Echo: “Over the past eight years, the hotel has been operating on minimal opening hours due to the current owner's other business ventures.

"Pre-recession, the business was turning over in excess of £1 million and generating profits of around £500,000. This was achieved with just 22 bedrooms.

"The hotel now stands ready to welcome a new owner to take full advantage of the investment our client, who is retiring, has put into the site."

The grade II building also comes complete with ghost stories of unexplainable footsteps, a headless monk and the apparition of a little girl thought to have fallen from the roof.

Search hotels for sale


Share this article



Latest Businesses for Sale

Builders Merchant
Manchester, UK Wide

The business for sale is a popular, independent builders’ yard/supplier specialising in a wide range of building products. Offers invited.

Asking Price: £299,500
Turnover: £570,000

LEASEHOLD


Joinery Business
East London, South East, UK

This is a fantastic opportunity to acquire a long running and well-established joinery business currently serving the London area. Offers invited.

Asking Price: £420,000
Turnover: £780,000

LEASEHOLD


Dust & Fume Extraction Specialist
Scotland, UK

Specialises in comprehensive dust and fume extraction solutions, providing tailor-made designs, installations and support services. Offers invited.

Asking Price: Offers Invited
Turnover: £534,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Mar
 

Craft beer company goes under | ADMINISTRATION

With stores in London, Canterbury and Margate, craft beer me...

 
25
 
Mar
 

West Midlands transport company enters administration | ADMINISTRATION

The company behind the Ring and Ride services throughout the...

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
27
 
Feb
 

Petrol station up for sale | BUSINESS SALE

An MOT garage and petrol filling station in North Wales has ...

 
16
 
Feb
 

Historic hotel put up on the market | BUSINESS SALE

A historic hotel located in Haltwhistle, Northumberland has ...

 
29
 
Nov
 

Hawk & Buckle Inn for sale | BUSINESS SALE

Situated on the border of Denbighshire and Conwy, Hawk & Buc...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources